GM Press Conference: General Motors on business activities

GM have today held a press conference at their headquarters, the main reason they held the press conference was to announce that they were no longer looking for a new chief executive, they have given the job to its chairman Ed Whitacre.

They have done this “in an effort to restore stability”, the previous chief executive Fritz Henderson frustrated the companies directors with the time it was taking the company to recover, therefore he was ousted.

When asked about the recent change in roles Whitacre stated “The board looked at the potential candidates and decided this place needs stability, that we don’t need any more uncertainty” and added “They asked me to do it and I said yes”

Another thing that GM announced was that they were planning to repay $8.1bn in loans which they received from the US and Canadian governments, for more information check out Guardian.co.uk.